Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
Rest of the world: 10%
And since we haven’t moved the needle on the minimum wage in decades, people will be making those low-added value products at starvation wages.
Well, yes, wages tend to decrease on that shift.